EURUSD begins pullback towards 1.1800?
EURUSD might have carved interim lows around 1.1610 levels. The currency has raised through 1.1660 levels for now and might be preparing for a meaningful pullback towards 1.1780/1.1800 levels before it finds resistance again. The drop from 1.2010 might be unfolding into lower degree Wave 4 or it could be still working on an extended Wave 3 lower. Either way, watch out for resistance around 1.1780/1.1800 mark as bears prepare to turn lower again.
Remain short, stop @ 1.2010, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 1.2010, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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